3M Company (NYSE:MMM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of 3M Company (NYSE:MMM) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $175.10.

MMM has been the subject of several recent research reports. Wolfe Research increased their target price on shares of 3M from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Wells Fargo & Company upped their price objective on 3M from $176.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on 3M from $177.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of 3M in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $160.00 price target on 3M and gave the stock an “equal weight” rating in a report on Tuesday, October 21st.

Insider Transactions at 3M

In related news, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the completion of the transaction, the executive vice president directly owned 6,594 shares of the company’s stock, valued at $1,098,230.70. This represents a 74.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Zoe L. Dickson sold 13,826 shares of 3M stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the sale, the executive vice president directly owned 6,162 shares in the company, valued at $1,046,184.36. This represents a 69.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,516 shares of company stock worth $7,836,465. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of 3M by 0.7% during the 1st quarter. Invesco Ltd. now owns 4,498,809 shares of the conglomerate’s stock worth $660,695,000 after purchasing an additional 30,260 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 3M by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,198,538 shares of the conglomerate’s stock worth $616,597,000 after buying an additional 414,160 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in 3M by 23.1% during the first quarter. Alliancebernstein L.P. now owns 3,127,734 shares of the conglomerate’s stock worth $459,339,000 after buying an additional 586,851 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 3M by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,122,020 shares of the conglomerate’s stock worth $458,500,000 after buying an additional 199,944 shares during the period. Finally, Amundi increased its holdings in 3M by 20.7% in the first quarter. Amundi now owns 3,030,397 shares of the conglomerate’s stock valued at $423,471,000 after buying an additional 519,302 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 0.5%

MMM opened at $166.64 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 2.54. 3M has a 52 week low of $121.98 and a 52 week high of $172.85. The business’s 50 day moving average is $159.96 and its two-hundred day moving average is $153.98. The firm has a market cap of $88.52 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06.

3M (NYSE:MMM) last announced its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. The business had revenue of $8.38 billion for the quarter. On average, research analysts predict that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, November 14th. 3M’s dividend payout ratio (DPR) is 46.65%.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.